Theres a simple view of risk, that says its the product of the probability of something going wrong in a surprising way, times the impact to your organizational (or personal) objectives, goals, processes and/or systems. The more complex view of risk forces us to accept that almost by definition, predicting the likelihood of a future event of a type we have never really seen before is either impossible or a contradiction in terms. Another is the optimistic view of risk that our systems, processes, and organizations might actually be enhanced, grow stronger because of these surprises.

Please present your argument; what it is manage the risk when we are doing risk management?.